Opportunities for Engineers as the Fourth Industrial Revolution Hits

Originally Posted by Engineers Australia – Wednesday 27 January 2016

Engineering specialists in materials, biochemicals, nanotech and robotics will become critically important to the industries by 2020, claims new research by the World Economic Forum.

The report, titled “The Future of Jobs”, looked at how The Fourth Industrial Revolution would disrupt business models and labour markets over the next five years. The Fourth Industrial Revolution will see the convergence of multiple fields, including artificial intelligence and machine learning, robotics, nanotechnology, 3D printing and genetics and biotechnology.

This, combined with other socio-economic and demographic changes, will result in the net loss of over five million jobs in 15 major developed and emerging economies.

According to the report, the rate of change means that at conservative estimates, 7.1 million jobs could be lost through redundancy, automation or disintermediation over the next five years, while 2.1 million new jobs will be created, mostly in specialised areas such as Computer and Mathematical or Architecture and Engineering.

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